The Indonesian rupiah appreciated today as the International Monetary Fund boosted its forecast for Japan’s economic growth, improving prospects for Indonesian exports.
The IMF increased its estimate for Japan’s growth this year to 1.6 percent. Japan is the second-biggest importer of Indonesian shipments, 40 percent of which consist of commodities. The news added to the positive general market that supported higher-yielding currencies.
USD/IDR fell 0.1 percent to 9,720 as of 9:51 GMT today.
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